Industrial rubber is of two types, namely natural and synthetic. Natural rubber consists of polymers of organic compounds like isoprene obtained from latex, rubber trees and other plants. On the other hand, synthetic rubber is an elastomer developed by the polymerization of unsaturated hydrocarbons from petroleum byproducts manufactured in the petrochemical industry. The use of industrial rubber is dominated by one major product – tires. The global industrial rubber market is expected to witness significant growth due to a growing consumption of rubber in the tires manufacturing industry. Commercially, industrial rubber is mainly used for making tires used in bicycles, trucks, aircrafts and automobiles. However, industrial rubber is also used in various other industrial applications like conveyor belts, hoses, sealing products, and gaskets, which include a number of products such as floor and wall coverings, mechanical rubber goods, wiper blades, high pressure hoses, roll coverings, large bore dredging hoses, vibration control products, transmission belts, belt drive systems, molded rubber goods, weather stripping products, flat belts, non-flat belts, rubber belting, sheet & film, rubber hoses, elevators, conveyor belting, geo-membranes and fabricated rubber products.
The global industrial rubber market was valued at nearly US$ 89 Bn in 2015 and is expected to expand at a CAGR of 6.1% to reach nearly US$ 168 Bn by 2026 end. In terms of volume, the global industrial rubber market is expected to register a CAGR of 5.6% during the forecast period. In terms of value, the global industrial rubber market is estimated to create incremental dollar opportunity of nearly US$ 80 Bn and expand 1.8X between 2016 and 2026.
Global Industrial Rubber Market Analysis, by End User
The Automotive & Transportation segment is expected to emerge as the most attractive segment in the global industrial rubber market over the forecast period
The Automotive & Transportation segment was estimated to account for 41.9% share of the global industrial rubber market by 2016 end. It is expected to be a highly attractive segment in terms of CAGR and market share during the forecast period. The Industrial Machinery & Equipment segment is anticipated to create substantial incremental opportunity during the forecast period due to the increasing use of industrial rubber in conveyor belts and other belting applications in agriculture and construction machinery. The segment is estimated to account for 29.7% share of the global industrial rubber market by 2026 end. In terms of revenue, the Building & Construction segment is projected to account for 19% share of the global industrial rubber market by 2026 end. The segment is likely to record a low market attractiveness index compared to other end user segments.
Significant trends in the global industrial rubber market
Proliferation of tire manufacturing companies in APEJ
APEJ has a significant contribution in the global industrial rubber market. It is a leading region in terms of production and consumption of rubber. An emerging trend in APEJ is to manufacture motorcycle and bicycle tires. In addition, many stakeholders are exhibiting interest in the manufacture of car and truck tires and this segment is forecasted to overtake the manufacturing of bicycle and motorcycle tire business in the region. The APEJ region also boasts of a robust automotive market. It is an emerging market in terms of production and sales of automobiles. In emerging economies such as India, Sri Lanka and Bangladesh, there is a healthy market for automobiles used for commercial purposes, hence there is growth in the manufacture and sales of heavy vehicles such as trucks and buses in such countries. Many stakeholders are showing interest in the manufacture of truck and bus tires.
“Increasing competition from substitute products threatening the dominance of industrial rubber
Thermoplastic elastomers are the possible substitutes abundantly used in all applications involving industrial rubber. It is expected to replace synthetic and natural rubber in a variety of applications like automotive, construction, foot wear, wire and cables and has prospered to a great extent. Thermoplastics have successfully been replacing industrial rubber in all such application areas. This is a major restraint affecting the global industrial rubber market.”
--- Analyst, Persistence Market Research
Persistence Market Research examines the performance of the global industrial rubber market for a period of 10 years in a new report titled “Industrial Rubber Market: Global Industry Analysis and Forecast, 2016–2026.” Industrial rubber is an essential component of tire producing industries, and it represents around 66% of worldwide rubber utilization. However, now the industry is emerging from the heavy influence of the automotive industry and is making forays in the construction industry and pharmaceutical industry. Apart from being used in making tires, rubber has enormous usage such as in the fields of building and construction and industrial machinery and equipment.
This Persistence Market Research report on the global industrial rubber market analyzes opportunities in the market and presents updates and insights pertaining to various segments of the global industrial rubber market over the forecast period 2016–2026.
To understand consumption patterns and assess opportunities in the global industrial rubber market, the report is divided into different sections namely, by product type, by processing method, by end user, and by region. The report analyzes the global industrial rubber market in terms of market volume (‘000 Tons) and market value (US$ Mn). The report also includes Persistence Market Research’s analysis of drivers and restraints witnessed in the market. Key trends observed across the value chain are also included in the report. The report highlights existing opportunities in the global industrial rubber market to equip clients with crystal-clear decision-making insights.
The subsequent sections analyze the global industrial rubber market on the basis of product type, processing method, end user, and region, and present a comprehensive forecast for the period 2016–2026. The market is segmented as follows:
By Product Type
By Processing Method
By End User
The report covers an in-depth analysis of all components of the value chain in the global industrial rubber market. In the final section of the report on the global industrial rubber market, a competitive landscape is included to provide a dashboard view of global industrial rubber market manufacturers, retailers, and distributors. The report also contains company profiles of some of the key players in the market.
To deduce the market size of the global industrial rubber market, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, processing method, end user and region; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The report begins with sizing the base year in terms of value and volume. This forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, Persistence Market Research triangulates the data via a different analysis based on the supply side, demand side, and other dynamics of the global industrial rubber market. To develop the market forecast, a factor analysis has been conducted to understand the impact of various forces/factors on the target market. It is imperative to note that in an ever-fluctuating economy, the report not only provides forecasts in terms of CAGR but also analyzes the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand predictability of the market and to identify the right opportunities.
Another key feature of this report is the analysis of the global industrial rubber market and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity analysis is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global industrial rubber market. Further, to understand key segments in terms of their growth and performance in the global industrial rubber market, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global industrial rubber market.
List of Companies